21.11.201708:13 Forex Analysis & Reviews: Daily analysis of major pairs for November 21, 2017

EUR/USD: This pair made an invalid bearish effort last week – while the recent bullish bias remains valid. The price could be seen going upwards this week. There are support lines at 1.1700 and 1.1650, which would try to impede any bearish attempts along the way.

USD/CHF: In the last few trading days, the price has been characterized by short-term upswings and downswings. Some visible bullish effort has been seen so far this week, but there would not be a bullish signal in the market until the resistance level at 1.0000 is breached to the upside. That would not be an easy thing to achieve.

GBP/USD: A short-term bullish signal has been generated on this market. There is a Bullish Confirmation Pattern in the 4-hour chart, which is supposed to be more conspicuous as price journeys further northwards. The next targets for bulls could be the distribution territories at 1.3250 and 1.3300.

USD/JPY: Within a context of a short-term downtrend, the USD/JPY bounced upwards after testing the demand level at 112.00. The upwards bounce could turn out to be an opportunity to sell short at a better price, except the supply level at 113.50 is breached to the upside (which would require strong bullish pressure).

EUR/JPY: Within a context of a short-term downtrend, the EUR/JPY bounced upwards after testing the demand zone at 131.50. The upwards bounce could turn out to be an opportunity to sell short at a better price, except the supply zone at 133.50 is breached to the upside (which would require strong bullish pressure).